Shipping stocks have been hit by volatility after reports of steps towards a ceasefire in Gaza in the past month.
Albemarle Shipping Fund fell by 1.73% in June compared with a decline of 3.1% for the fund’s internal shipping index.
“Much of this negativity was the result of equity markets absorbing the news of a potential ceasefire in Gaza and the negative utilisation implications of a reopening of the Red Sea and Suez Canal,” the fund said in its monthly report.
